Another Adler in the spotlight after travel company folds

Natalie O'Brien

LYNDI ADLER appears to have taken over where her husband, Rodney, left off, building a business and investment empire. But like the former head of the failed FAI Insurance group, her career has not been without problems.

Mrs Adler holds directorships in more than 20 companies, is the secretary of more than 10 and has shares in six - one of which is a major Surry Hills travel agency which has been put into the hands of administrators.

Mrs Adler's investment company, Jaronach Pty Ltd, has a shareholding worth almost $500,000 in Moves Travel Group, which company documents filed with the Australian Securities and Investments Commission show has three major shareholders and a paid-up share capital of $1.2 million. Moves Travel has been operating since 1999.

Mrs Adler, who has also carved out a career as a film and theatre producer in recent years, did not return calls from Fairfax Media on Wednesday.

Administrators David Young and Anthony Elkerton of Pitcher Partners in Sydney were appointed on Monday after two companies, The Cullen Hotel, which is based in Melbourne, and WTH, based in Sydney, had petitioned for Moves Travel to be wound up.

It is not known how much money is owed to creditors.

In a statement Pitcher Partners said Moves Travel had ''ceased to trade''.

''We are reviewing the circumstances leading up to our appointment as administrators and carrying out our investigations of Moves Travel's affairs, including a review of its financial position and performance,'' the statement said.

The first meeting of creditors will be held next week.

''We understand that Moves Travel has remitted payment for all tickets issued on or prior to 12 November 2012 and therefore those tickets should not be affected,'' the release said.

The chief executive of the Travel Compensation Fund, Glen Wells, said Moves Travel was a substantial company with many corporate travel clients and a branch in Melbourne.

He said the fund was expecting many claims.

Rodney Adler was jailed in 2005 for his part in the $5.3 billion collapse of the insurance giant HIH. He served 2½ years before being paroled. He has been banned for 20 years from acting as a director. He has been reportedly working as an adviser from the same corporate address in Macquarie Street used by Jaronach.